Triple-digit decline for dow as the market slimps ever lower this week thanks in part to reports by Sentinel Management Group.
"It is problems in the asset-backed commercial paper market that is causing the new concern now - that is the new leg in the drop," said Peter Bookvar, equity strategist at Miller Tabak.
Weak results from Wal-Mart Stores Inc., the world's largest retailer, and an anemic outlook from home-improvement retailer Home Depot Inc. also raised questions about the health of consumers. "Wal-Mart's lowered guidance heightened our fear of a consumer spending slowdown perhaps coming to fruition," said Art Hogan, chief market strategist at Jefferies & Co. "The disappointment from Wal-Mart this morning put an end to the first bounce," Elliot Spar, options/market strategist at Stifel Nicolaus & Co, wrote in an early note.
Even with a diverse portfolio I think it's safe to say we are all feeling the crunch, stop taking a dump on my parade!
